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Corning Inc (GLW): Today's Featured Electronics Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Corning (
GLW) pushed the Electronics industry lower today making it today's featured Electronics laggard. The industry as a whole closed the day down 1.0%. By the end of trading, Corning fell $0.31 (-2.1%) to $14.72 on average volume. Throughout the day, 9,466,806 shares of Corning exchanged hands as compared to its average daily volume of 10,933,600 shares. The stock ranged in price between $14.69-$15.03 after having opened the day at $15.00 as compared to the previous trading day's close of $15.03. Other companies within the Electronics industry that declined today were:
TranSwitch Corporation (
TXCC), down 29.1%,
On Track Innovations (
OTIV), down 11.8%,
China Sunergy (
CSUN), down 9.0% and
Hanwha SolarOne (
HSOL), down 8.4%.

Corning Incorporated produces and sells specialty glasses, ceramics, and related materials worldwide. It operates through five segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials, and Life Sciences. Corning has a market cap of $21.8 billion and is part of the technology sector. Shares are up 19.1% year to date as of the close of trading on Friday. Currently there are 9 analysts that rate Corning a buy, 1 analyst rates it a sell, and 4 rate it a hold.

TheStreet Ratings rates
Corning as a
buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.